Guideline Value for Gnanambal Nagar

Gnanambal Nagar guideline value

The current guideline value of Gnanambal Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This locality is situated in Nemili village and falls under the Sriperumpudur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Gnanambal Nagar has changed

The guideline value for Gnanambal Nagar has seen several revisions over the years. In 2007, the value was set at Rs 125 per sq.ft, which increased to Rs 300 per sq.ft in 2012. However, in 2017, the value dropped to Rs 201 per sq.ft. The most recent revisions in 2023 and 2024 maintained the value at Rs 300 per sq.ft, showing no change between these two years. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%. The significant change occurred from 2007 to 2012, where the value rose by 140%. Overall, from 2007 to 2024, the guideline value has increased by 140%.

Guideline values in Nemili

In Nemili, there are 66 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,000 per sq.ft, with a median value of Rs 250 per sq.ft. Gnanambal Nagar's 2024 figure of Rs 300 per sq.ft is above this median.

• Gowtham Golden Avenue: Rs 300 per sq.ft (2024)
• Gowthami Nagar (Gowthami Estates): Rs 300 per sq.ft (2024)
• Gragapriya Nagar: Rs 300 per sq.ft (2024)
• Gandhi Street: Rs 210 per sq.ft (2024)
• Ganapathy Nagar Part IV: Rs 400 per sq.ft (2024)
• Ganapathy Nagar Colny: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Gnanambal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, resulting in a total of Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Gnanambal Nagar?

The Sub Registrar Office that covers Gnanambal Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Nemili

The guideline value plays a crucial role in the registration process of property transactions in Nemili. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is considered to ensure that the transaction is recorded at a fair value. This helps in maintaining transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Gnanambal Nagar?

The current guideline value of Gnanambal Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017, and has remained at Rs 300 per sq.ft in 2023 and 2024.

What is the land classification of Gnanambal Nagar?

The land classification for Gnanambal Nagar is Residential Class I Type - I.

Where is the Sub Registrar Office for Gnanambal Nagar located?

The Sub Registrar Office for Gnanambal Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Gnanambal Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 300 per sq.ft has a guideline value of Rs 3,00,000, resulting in a stamp duty of Rs 21,000.